Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Northern Trust completes acquisition

acquisition/Northern-Trust/

4 October 2017
| By Oksana Patron |
image
image image
expand image

Northern Trust has announced the closing of its acquisition of UBS Asset Management’s fund administration units in Luxembourg and Switzerland.

According to the company, the acquisition will position it as a leading administrator by assets in Switzerland  and a top 10 asset servicing provider in Luxembourg.

Northern Trust’s president, Europe, Middle East and Africa region, Teresa Parker, said: “ We are pleased to announce the completion of our acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.

“The acquisition is a cornerstone of our strategic expansion plan for continental Europe and represents a significant opportunity to broaden our scale, capabilities, products and market reach across Europe, enabling us to further enhance our services to existing and future clients and strengthening our position as a leader in the region.”

Northern Trust, which opened its office in Luxembourg in 2004, first announced its intention to acquire the UBS fund administration servicing units in February, 2017.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 3 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 3 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

2 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND